Penske Automotive Group Inc Stock Forecast
Green day on Friday for Penske Automotive Group Inc
(Updated on May 03, 2024)
The Penske Automotive Group Inc stock price gained 0.616% on the last trading day (Friday, 3rd May 2024), rising from $152.50 to $153.44. During the last trading day the stock fluctuated 1.93% from a day low at $152.97 to a day high of $155.92. The price has risen in 7 of the last 10 days and is up by 3.72% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 62 thousand more shares were traded than the day before. In total, 201 thousand shares were bought and sold for approximately $30.91 million.
The stock is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Penske Automotive Group Inc stock with a 90% probability to be traded between $150.34 and $165.84 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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PAG Signals & Forecast
There are mixed signals in the stock today. The Penske Automotive Group Inc stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $153.61 and $153.87. A break-up above any of these levels will issue buy signals. A buy signal was issued from a pivot bottom point on Thursday, April 18, 2024, and so far it has risen 4.04%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Penske Automotive Group Inc stock
Penske Automotive Group Inc finds support from accumulated volume at $152.91 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $2.95 between high and low, or 1.93%. For the last week the stock has had daily average volatility of 2.36%.
Our recommended stop-loss: $145.72 (-5.03%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 11 days ago.)
Trading Expectations (PAG) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Penske Automotive Group Inc to open at $154.11, and during the day (based on 14 day Average True Range), to move between $150.02 and $156.86, which gives a possible trading interval of +/-$3.42 (+/-2.23%) up or down from last closing price. If Penske Automotive Group Inc takes out the full calculated possible swing range there will be an estimated 4.45% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $152.91 (0.35%) than the resistance at $154.84 (0.91%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Penske Automotive Group Inc stock A Buy?
Penske Automotive Group Inc holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: -0.250 Hold/Accumulate Unchanged
Predicted Opening Price for Penske Automotive Group Inc of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $154.11 ( 0.437%) | $153.44 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PAG
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 157.06 | 2.36 % | |
| R2 | 155.93 | 1.62 % | ||
| R1 | 155.24 | 1.17 % | ||
| Current price: | 153.44 | |||
| Support | S1 | 152.98 | -0.298 % | |
| S2 | 152.29 | -0.751 % | ||
| S3 | 151.16 | -1.49 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 155.63 | 1.43 % | |
| R2 | 155.38 | 1.26 % | ||
| R1 | 154.84 | 0.91 % | ||
| Current price | 153.44 | |||
| Support | S1 | 152.91 | -0.345% | |
| S2 | 149.02 | -2.88% | ||
| S3 | 148.25 | -3.38% |
PAG Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jan 17, 2024 | Feb 14, 2024 | Mar 01, 2024 | $0.87 | 0.563% |
| 2 | Oct 18, 2023 | Nov 09, 2023 | Dec 01, 2023 | $0.790 | 0.512% |
| 3 | Jul 19, 2023 | Aug 09, 2023 | Sep 01, 2023 | $0.720 | 0.433% |
| 4 | May 11, 2023 | May 19, 2023 | Jun 01, 2023 | $0.660 | 0.477% |
| 5 | Jan 25, 2023 | Feb 09, 2023 | Mar 01, 2023 | $0.610 | 0.422% |
FAQ
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